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Russia continues to solidify its position as India's leading seaborne crude oil supplier, accounting for over one-third of the country's imports in the latter half of the financial year, thanks to competitive pricing and operational advantages. Despite this, traditional suppliers from West Asia are ramping up shipments as they benefit from the easing of voluntary production cuts. Seasonal refinery maintenance in India and increasing competition from the Middle East and the US could impact Russian exports, particularly after June, when some refineries affected by drone attacks resume operations. Kpler's Lead Research Analyst, Sumit Ritolia, highlights that Russia's Urals grade crude, priced around $50 per barrel in May, remains attractive due to its discounts against global benchmarks. However, potential increases in Russian refinery throughput could limit export volumes, while Middle Eastern oil is expected to compete more aggressively with US supplies as production cuts are lifted. 
Published: Jun 08 2025, 2 pmeznews.inIn June 2025, passenger vehicle (PV) sales in India rose by 2.45% to 297,722 units, compared to 290,593 units in the same month last year, according to the Federation of Automobile Dealers Associations (FADA). Despite this growth, the industry faces challenges, including geopolitical tensions, supply chain issues, and difficulties in securing rare-earth materials, which have impacted production. FADA President CS Vigneshwar noted that dealer sentiment is leaning towards a slowdown, with more dealers expecting flat or declining sales than growth. While two-wheeler (2W) sales increased by 5% to 1,446,387 units, and three-wheeler (3W) and commercial vehicle (CV) sales also saw gains, concerns over inventory management and market conditions persist. Overall, the total vehicle sales across all categories grew by approximately 5% to 2,003,873 units, reflecting a mixed outlook for the industry amid seasonal and economic pressures.
Published: Jul 07 2025, 10 ameznews.inIn an interview with _businessline_, CII President Rajiv Memani emphasized the importance of policy stability in India's economic growth, highlighting the country's resilience amid global challenges. He noted that macroeconomic indicators, such as low interest rates and controlled inflation at 2.8%, reflect a robust economic environment conducive to business growth. Memani advocated for careful negotiation of trade agreements, particularly with the US, while cautioning against non-tariff barriers that could undermine benefits from reduced tariffs. He also discussed the need for reforms in the Goods and Services Tax (GST) system, suggesting that streamlining audits and addressing input tax credit issues could enhance efficiency for businesses. Looking ahead, Memani identified three critical reforms: expediting land acquisition and environmental clearances, creating platforms for inter-ministerial collaboration, and establishing a sovereign wealth fund to support MSMEs and address supply chain vulnerabilities.
Published: Jul 07 2025, 9 ameznews.inA report by Jefferies forecasts a slowdown in India's corporate revenue growth in FY26, attributing this trend to a decline in nominal GDP growth, which is projected to ease to 9%, the second-lowest rate since FY04, excluding the pandemic-affected FY21. While real GDP growth is expected to remain stable at 6.5%, lower inflation is dampening nominal growth. Jefferies warns that this softer nominal GDP could adversely impact corporate revenues and credit growth, with bank credit likely to remain capped at 11-12% by March 2026. The report highlights that the anticipated 9% nominal GDP growth would mark a significant drop from the historical average of 12.6% since FY04, suggesting a challenging environment for business expansion and financial sector momentum. This decline in nominal growth could signal a period of reduced earnings and limited credit availability, raising concerns for the broader economy.
Published: Jul 07 2025, 9 ameznews.inThe US Department of Agriculture has reported that US soybean oil prices have maintained a premium despite recent price fluctuations linked to the Renewable Volume Obligation (RVO). So far this year, soybean oil prices have surged over 30%, outperforming metals like gold and copper, largely driven by the Environmental Protection Agency's proposed Renewable Fuel Standard volume targets for 2026 and 2027. In contrast, soybean meal prices have dropped nearly 14% since January 2025. The EPA's proposal includes higher targets for biomass-based diesel, which is expected to increase soybean oil usage by around 250 million gallons annually. Recent legislative changes, such as the "One Big Beautiful Bill Act," will restrict clean fuel production credits to feedstocks sourced from the US, Mexico, or Canada. Analysts predict that while soybean oil prices may rise, soybean meal could face downward pressure due to reduced demand from China and ongoing trade tensions.
Published: Jul 07 2025, 9 ameznews.inThe Kerala government is taking steps to ensure adequate coconut oil supply during the upcoming Onam festival, with annual consumption in the state estimated at three lakh tonnes. State Agriculture Minister P Prasad highlighted challenges posed by rising copra prices and shortages, prompting the government to procure more raw coconuts for copra production through Kerafed, the cooperative federation of coconut farmers. Primary societies have been instructed to buy coconuts at ₹1 above the Coconut Development Board's fixed price, while tenders will be issued for an additional 500 tonnes from the open market. The state is also relying on Tamil Nadu for copra, but heavy rains have affected quality. With retail prices of coconut oil reaching ₹450, demand has declined, raising concerns among traders. However, a drop in prices is anticipated as fresh stocks arrive from Tamil Nadu and Karnataka.
Published: Jul 07 2025, 9 ameznews.inThe Airline Pilots’ Association of India (ALPA) is advocating for reforms in the medical examination process for commercial pilot licence (CPL) holders, which currently mandates assessments at Indian Air Force (IAF) centres. An online petition highlights inefficiencies, long wait times, and travel costs associated with these military facilities, which are not accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH) or the National Accreditation Board of Testing and Calibration Laboratories (NABL). ALPA argues that in major countries, such examinations are conducted by civil doctors, and they are calling for a shift to this model in India. The association also emphasizes the need for third-party audits of all medical examination centres to ensure fairness and accuracy. With a projected demand for 65,000 flight crew in the next decade, industry experts warn that current medical standards could hinder pilot availability, urging immediate policy changes.
Published: Jul 06 2025, 7 pmeznews.inIn India, per capita annual consumption of edible oil stands at 18 kg, while sugar consumption is approximately 20 kg, according to recent trade data. However, both figures have seen a decline in recent months, attributed to factors such as weather conditions, rising prices, and changing consumer preferences. This drop coincides with a government initiative, endorsed by Prime Minister Narendra Modi, urging citizens to reduce their intake of cooking oil, sugar, and salt for better health. Notably, cooking oil imports fell by 22% in May, while sugar sales also lagged, with 1 lakh tonnes remaining unsold from a government allocation. Industry experts suggest that while Modi's appeal may have influenced consumption patterns, broader economic sentiments and a shift towards healthier alternatives like jaggery are also at play. The government has allocated 229.5 lakh tonnes of sugar for domestic sales, a 6% decrease from the previous year, reflecting changing consumption trends.
Published: Jul 06 2025, 6 pmeznews.inDespite India having 171 approved Registered Vehicle Scrapping Facilities (RVSFs) across 20 states, public participation in the vehicle scrappage scheme remains low, with only 250,000 vehicles scrapped since April 2022, far below the estimated 30 million nearing the end of their life. The reluctance is attributed to minimal discounts offered by car manufacturers, with most providing only up to ₹25,000, insufficient to incentivize owners. Emotional attachments to vehicles, particularly first cars, further complicate the issue, as highlighted by the backlash against Delhi's ban on older vehicles. Additionally, rising vehicle costs and low per capita income have made new car purchases less affordable, contributing to a significant decline in small car sales. The uneven distribution of RVSFs, with many not operational, exacerbates the situation, leaving owners with limited options for scrapping their vehicles.
Published: Jul 06 2025, 5 pmeznews.inIndiGo, India's leading airline, is strategically targeting the transit passenger market between Europe and Southeast Asia, leveraging its hub in Mumbai. CEO Pieter Elbers highlighted the airline's geographical advantage, noting that connecting flights through Mumbai or Delhi present a viable option for travelers. Recently, IndiGo launched direct flights from Mumbai to Manchester and Amsterdam, with plans to expand to Copenhagen this winter. Elbers emphasized that while the airline may attract some traffic from Middle Eastern and European carriers, its primary goal is to provide additional travel options for Indian passengers, reflecting their diverse needs. With a fleet of over 400 aircraft and more than 2,200 daily flights, IndiGo aims to enhance its network using new Airbus A321XLR aircraft. The airline serviced over 118 million customers in FY25, underscoring its significant growth and commitment to expanding international connectivity.
Published: Jul 06 2025, 5 pmeznews.inIndia is pushing for a bilateral trade agreement (BTA) with the United States that prioritizes its interests, particularly in labour-intensive sectors like textiles and leather, to enhance its competitiveness in the American market. Following a week of negotiations in Washington, Indian officials did not finalize a deal, with hopes for an interim agreement before the expiration of a 90-day pause on US reciprocal tariffs on July 9. A source indicated that India has proposed reducing tariffs on American goods while insisting that its sensitive sectors, including agriculture and dairy, be protected. The situation now rests with the US, as President Donald Trump prepares to send letters detailing new tariffs to trade partners, including India, which faces a fixed tariff rate of 26% due to its trade deficit with the US. The outcome of these negotiations remains uncertain as both sides navigate their respective demands.
Published: Jul 06 2025, 4 pm
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